MIDDLE ATLANTIC

First Republic Bank in Philadelphia has hired Robert D. Davis to be president and chief executive officer.

He was to succeed Rolf A. Stensrud in those posts Tuesday. The bank said last year it would let Mr. Stensrud's contract expire Dec. 31 but that he would remain a bank and holding company director until spring.

First Republic is a subsidiary of Republic First Bancorp, whose president and CEO is Jere A. Young. and its chairman Harry D. Madonna

Mr. Davis was regional president for Greater Philadelphia and southern New Jersey at Mellon Bank-Philadelphia Savings Funds Society, a subsidiary of Pittsburgh's Mellon Bank Corp. Before joining Mellon he had been senior vice president in the marketing services group at Marine Midland Bank, Buffalo. Still earlier, he had directed Marine Midland's 32 Long Island branches as administrative vice president.

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